TSLA - Tesla's Top Chinese Rival BYD's Seagull Range May Emerge As A Solid Contender Despite Biden's Tariff Surge Against Chinese EVs: Here's How | Benzinga
President Joe Biden is actively promoting a shift towards electric vehicles in the U.S., reportedly employing stringent emissions regulations and substantial subsidies of up to $7,500 to incentivize American consumers to purchase electric cars over traditional gas-powered ones.
In a move to safeguard American automakers, President Biden has initiated measures to significantly raise tariffs on Chinese electric vehicles, quadrupling them to 100 percent through an executive action signed earlier this month.
While the increased tariffs will create a notable cost gap between Chinese imports and American-made electric vehicles, certain models such as the budget-friendly BYD Co., Ltd. (OTC:BYDDY) (OTC:BYDDF) Seagull may still remain competitively priced compared to some U.S. counterparts even after the tariffs are applied, The New ...